Westfalika store is owned by Obuv Rossii GC. Photo: Shutterstock
On the Moscow stock exchange gave an assessment of the cost of the GC "Obuv Rossii"
The leading organizer of the initial public offering (IPO) of Obuv Rossii Group of Companies on the Moscow Exchange, BCS Global Markets, estimated the company at 18,3-24,6 billion rubles, follows from the BCS Global Markets analytical report, RNS writes.
From the report it follows that the valuation of the group of companies was carried out by the multiplier 8-10 EV / EBITDA 2018 of the year and 10,9-14,7 of the P / E indicator of 2018 of the year. It implies a discount of 30-58% to similar shoe and clothing retail companies from emerging markets and an 54% premium to food retailers from Russia.
According to BCS Global Markets, EBITDA of Shoe of Russia in 2018 will amount to 3,214 billion rubles in the base scenario, 3,407 billion rubles in the optimistic scenario and 3,048 billion rubles according to the conservative forecast. Another co-organizer of the initial public offering of Shoe of Russia, Citigroup, expects the retailer's EBITDA in 2018 to be 3,034 billion rubles.
After being placed on the stock exchange, the share of Shoe of Russia in free float will be approximately 40% of the increased share capital. According to Citigroup materials distributed among potential investors of Obuv Rossii GC, at present 71,4% of the issuer's charter capital belongs to the General Director of Obuv Rossii Anton Titov, 25% to the structures of the owner of Onexim Mikhail Prokhorov, 1,8% to the CFO the company Elena Ageeva another 1,8% owned by the company's operational director Julia Donina.
The Obuv Rossii Group of Companies was founded in 2003 and is headquartered in Novosibirsk. The Group's core business is the production and sale of footwear and related products. Obuv Rossii operates five shoe chains: Westfalika (a single-brand classic shoe store), Rossita (a family-friendly store), Emilia Estra and Lisette (fashionable shoe stores), and Peshekhod (a multi-brand shoe supermarket), as well as the S-tep, All.go, and Snow Guard brands of footwear and clothing for an active lifestyle. The Obuv Rossii shoe chain currently operates over 500 stores in more than 140 cities. The company's 2016 IFRS revenue amounted to 10 billion rubles, with a net profit of 1,2 billion rubles. The company operates the online stores westfalika.ru, westfalika-home.ru, emilia-estra.ru, and rossita.com.
The leading organizer of the initial public offering (IPO) of Obuv Rossii GC on the Moscow Exchange, BCS Global Markets, estimated the company at 18,3-24,6 billion rubles, follows from the analytical ...
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